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Occidental Petroleum could be primed for a very successful 2014, and here is what investors should watch for when the company reports earnings to see if it staying on that track.

No one would blame you if you shied away from buying Occidental Petroleum Corporation(NYSE:OXY) over the past couple years. While so many other oil companies were taking off with shale, Occidental was working through a toxic management squabble that left the company rather rudderless. Now that management problems are behind it, the company has come up with a plan that could prove to be a much more successful future. If you have been shying away from this company, perhaps this earnings report coming up would be a good time to get back up to speed with Occidental.

One thing investors should look for is what the company has planned in the Permain Basin. After decades of operations in the region, the company is going to finally start taking shale oil development there seriously. Occidental is really hoping that Pioneer Natural Resources(NYSE:PXD) is right and there are 50 billion barrels of oil in Permian shale, especially since Occidental is by far and away the largest acreage holder in the region. Find out what else could make Occidental a great stock in 2014 by tuning into the video below.

Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter, @TylerCroweFool.